Press Release

U.S. Commerce Department Announces $1 Million Investment to Help Develop an International Commerce Strategy for Louisiana

WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to Louisiana Economic Development of Baton Rouge, Louisiana, to help develop a Master Plan for International Commerce that will help the state attract foreign direct investment and open export markets to Louisiana businesses.

“The Obama administration is committed to highlighting the many advantages the United States offers as a location for business and investment and to increasing American export to create new jobs,” said Secretary Pritzker. “This critical EDA investment will allow Louisiana to develop a plan that will help them capitalize on their unique assets to create new jobs through the attraction of foreign investment and increased exports.”

This investment to the Louisiana Department of Economic Development will support the development of a Master Plan for International Commerce and implementation of the plan through marketing and technical assistance to businesses to increase foreign direct investment and exports in Louisiana. The project is expected to result in the creation of high-wage jobs in targeted industry clusters due to increased foreign direct investment and exports from Louisiana-based companies.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.